FINDLAY,
Ohio, May 15, 2024 /PRNewswire/ -- MPLX LP
(NYSE: MPLX) announced today that it has priced $1.65 billion in aggregate principal amount of
5.50% senior notes due 2034 (the "2034 senior notes") in an
underwritten public offering. The 2034 senior notes were offered at
a price to the public of 98.778% of par.
MPLX intends to use the net proceeds from this offering to
repay, redeem or otherwise retire some or all of (i) MPLX's
outstanding $1,149 million aggregate
principal amount of 4.875% senior notes due December 2024, (ii) MarkWest's outstanding
$1 million aggregate principal amount
of 4.875% senior notes due December
2024 and (iii) MPLX's outstanding $500 million aggregate principal amount of 4.000%
senior notes due February 2025, and
in the interim may use such net proceeds for general partnership
purposes.
The closing of this offering is expected to occur on
May 20, 2024, subject to satisfaction
of customary closing conditions.
Mizuho Securities USA LLC, RBC
Capital Markets, LLC and TD Securities (USA) LLC are acting as joint book-running
managers for this offering.
This offering is being made only by means of a prospectus and
related prospectus supplement, which may be obtained for free by
visiting the Securities and Exchange Commission's website
at http://www.sec.gov. Alternatively, copies may be obtained
by contacting the following, which are acting as representatives of
the underwriters:
Mizuho Securities USA LLC
1271 Avenue of the Americas
New York, NY 10020
Attn: Debt Capital Markets
Toll-Free: 1-866-271-7403
RBC Capital Markets, LLC
Brookfield Place
200 Vesey Street, 8th Floor
New York, NY 10281
Telephone: (866) 375-6829
TD Securities (USA) LLC
1 Vanderbilt Avenue, 11th Floor
New York, New York 10017
Attn: DCM – Transaction Advisory
Toll-Free: (855) 495-9846
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About MPLX LP
MPLX is a diversified, large-cap master
limited partnership that owns and operates midstream energy
infrastructure and logistics assets and provides fuels distribution
services. MPLX's assets include a network of crude oil and refined
product pipelines; an inland marine business; light-product
terminals; storage caverns; refinery tanks, docks, loading racks,
and associated piping; and crude and light-product marine
terminals. The company also owns crude oil and natural gas
gathering systems and pipelines as well as natural gas and NGL
processing and fractionation facilities in key U.S. supply
basins.
Investor Relations Contact: (419)
421-2071
Kristina Kazarian,
Vice President Finance and Investor Relations
Brian Worthington, Director,
Investor Relations
Isaac Feeney, Supervisor, Investor
Relations
Media Contact: (419) 421-3577
Jamal Kheiry,
Communications Manager
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SOURCE MPLX LP